This report is produced two times per year, reporting on the recent economic developments and short term outlook of the Middle East and North Africa region. It is produced by the Chief Economist's office of the region (MNACE). These reports highlight a particular theme (such as fuel subsidies, service delivery, oil prices). This series was formerly known as MENA Economic Monitor, and before that, Middle East and North Africa Regional Economic Update, and combines with the series Middle East and North Africa Quarterly Economic Brief.
(Washington, DC: World Bank, 2018-10)
Arezki, Rabah; Mottaghi, Lili; Barone, Andrea; Fan, Rachel Yuting; Harb, Amani Abou; Karasapan, Omer M.; Matsunaga, Hideki; Nguyen, Ha; de Soyres, Francois
Growth in the Middle East and North Africa (MENA) region is projected to rebound to an average of 2% in 2018, up from an average 1.4% in 2017. The modest rebound in growth is driven mostly by the recent rise in oil prices, which has benefitted the region’s oil exporters while putting pressure on the budgets of oil importers. The rebound also reflects the impact of modest reforms and stabilization efforts undertaken in some countries in the region. The report forecasts that regional growth will continue to improve modestly, to an average of 2.8% by the end of 2020 while there is the ongoing risk that instability in the region could worsen and dampen growth. Despite recovery, the slow pace of growth will not generate enough jobs for the region’s large youth population. New drivers of growth are needed to reach the level of job creation required. The report offers a roadmap for unlocking the enormous potential of the region’s large and well-educated youth population by embracing the new digital economy. Broader and bolder reforms will be needed to achieve this goal, along with critical investments in digital infrastructure. It will require the reorientation of education systems toward science and technology, the creation of modern telecommunications and payments systems, and a private-sector driven economy governed by regulations that encourage rather than stifle innovation.
(Washington, DC: World Bank, 2018-04-16)
Arezki, Rabah; Mottaghi, Lili; Barone, Andrea; Fan, Rachel Yuting; Kiendrebeogo, Youssouf; Lederman, Daniel; Barone, Andrea
After a sharp fall in 2017, economic growth in MENA is projected to rebound to 3.1 percent in 2018, thanks
to the positive global outlook, oil prices stabilizing at relatively higher levels, stabilization policies and
reforms, and recovery and reconstruction as conflicts recede. The outlook for MENA remains positive, and
the growth rebound is expected to gain momentum over the next two years, exceeding 3 percent in 2020.
While stabilization policies have helped economies adjust in recent years, .a second phase of reforms is
needed should be transformative if the region is to reach its potential and create jobs for hundred million
young people who will enter the labor market in coming decades. In this report, we explore the role that
public-private partnerships can play. not only in providing an alternative source of financing but in helping
change the role of the state from the main provider of employment to an enabler of private sector activity.
Studies have shown that the gap between MENA economies and fast-growing ones is the performance of the
services sector. The disruptive technology offers new opportunities for boosting private-sector-led growth
through enhancement of high-tech jobs in the services sector. The report argues that combining the region's
fast-growing pool of university graduates and a heavy penetration of social media and smartphone, could
serve as the foundation for a digital sector that could create much-needed private sector jobs for the youth
over the next decade.